Redot is a cryptoasset exchange located in Estonia. Their volume over the last 24 hours is $1.72M. The exchange is rated “A+” which means “Excellent.” They are a crypto-only exchange.
|1st Trade||May '20|
|1st 1D Candle||May '20|
|1st Orderbook||Sep '20|
Redot is an EU-regulated decentralized digital asset exchange, which was launched in September 2020. The platform that was founded by the veterans of the crypto industry promises instant and secure trading service with the lowest commission.
The company behind the platform is a fintech and proptech company Atlant (the legal name Tensigma LTD), established in 2011. The company has already developed other decentralized projects such as a digital securities exchange UVAS based in Singapore and home rentals platform karta.com. The latter provides p2p rentals helping to reduce the expenses of both parties, tenant and lessor.
Estonia-licensed platform Redot was developed to meet the requirements of modern traders and investors of different types. The benefits of the platform include commission rebates, compliance with European law, monthly auditing, and deep cold storage.
The goals of the Redot platform
The mission of the company is to bridge the cryptocurrencies and the world of traditional finances so that common users would be able to buy digital assets for fiat money without problems.
The company mainly addresses the problems in the real estate sector trying to make it more transparent with the help of tokenized ownership and peer-to-peer rentals. The real estate property market still employs numerous chains of middlemen and bureaucratic procedures making the sphere confused and complicated. However, the situation can be easily changed with the approach offered by Atlant.
The background of the Redot project
To launch the Redot platform, Atlant Group Companies attained ISO certifications in Information Security Management Systems and Quality Management Systems for a wide range of activities. The company has also acquired exchange and custody licenses to provide a full range of services for its clients. Atlant has conducted the ICO in July 2017 when it sold its tokens. ATL is a utility token of the Atlant ecosystem that is traded on Redot and other exchanges now.
Actually, the company started the project after the members of the Atlant community faced the problem of transactions in ATL tokens, so the company allowed the exchange to use the software stack of the company. The platform in its turn listed the ATL trading pairs. Both companies continue working together trying to resolve the issues relevant for ATL holders. They are concerned about such spheres as liquidity and transparency.
The ATL tokens, which are ERC-20 tokens, represent shares in individual real estate assets and their liquid trading. The users received ATP tokens during that pre-sale which were then converted to ATL tokens at a rate of 1ATP:2ATL. The cost of 1 ETH was 1010 ATL at that time making the interest in the project even higher. The company raised 6.5 million USD during the ISO. The cryptocurrency has a hard cap with a maximum supply of 225,403 ETH.
It should also be mentioned that Atlant has decided to swap its tokens into two separate instances and call them KARTA and UVAS after the names of their projects mentioned above (BnB marketplace and tokenized securities exchange) thus upgrading their utility tokens and adding new features to them. In this way, the tokens became entirely recoverable. The swapped tokens will represent one of the projects in the future, while ATL represented both. The Redot exchange was launched to strengthen the ecosystem of the companies supported by the Atlant Group.
The company uses a ready-made scheme which was employed in the projects mentioned above and employs the same developments to grow and upgrade the project.
The service was created to cater to the needs of institutional investors therefore a high transaction throughput is critically important for the resource. Redot offers 300K TPS for its users and flawless FIX API connectivity to inform their users of changes fast. The platform is designed to enable easy customization of UI widgets and advanced types of orders for traders.
The underlying technical infrastructure was developed by the ATLANT development team, so all project operations are conducted by running ATLANT node software. The official website with a robust architecture promises 100% global uptime. The company has prepared redundant infrastructure as a means of failover protection.
Redot fees and other financial details
The Redot exchange introduced different payment methods on the platform. Users can top up their accounts using bank transfer, credit/debit cards, and even gift cards. There are other payment alternatives as well. The trading fees are not flat, as the makers and takers’ fees differ. Makers are charged with a fee of 0,05% and takers have to pay 0,15% for transactions.
Users don’t have to pay for depositing, while the withdrawal fee depends upon the selected cryptocurrency. There is a table with fees on the official website of the exchange, though the figures can be adjusted according to the network conditions. The platform has deposit and withdrawal limits, but they are rather low.
The traders can increase their profits by attracting new users to the platform and get a part of commissions paid by their referees. Redot introduced a rather generous referral program that allows its customers to earn 70% of the commissions generated by their referred users. Redot security and support
The security methods include two-factor authentication along with withdrawal protection. Also, Redot implements U2F and redundant infrastructure that was designed to withstand technical problems during round-the-clock trading.
The company has responsive support that is available round the clock. The multilingual members of the team are ready to provide assistance and resolve customers’ problems without delay.
The company was founded by Arman Oekenov, and Julian Svirsky in the UK. Arman Oekenov, COO, who previously worked in the Ministry of Justice of Kazakhstan, the Ministry of Foreign Affairs of Kazakhstan as Attache, and Embassy of Kazakhstan to Russia. He also worked as Deputy Director of the Department for Protocol and Organizational Support for the Eurasian Economic Commission in Moscow and COO at GRA Sp. z.o.o. in Poland. Arman Oekenov started working for Atlant in 2017. He launched the project with Julian Svirsky who is a serial entrepreneur and investor with broad experience in financial markets.
Other co-founders of the project are Neil Mohinani (CFO), expert arbitrager in Hong Kong “H”, Shenzhen “B”, and Shanghai “A” shares, and Denis Donin (CTO) who has an extensive blockchain development experience acquired when working over SpeaceBTC.com, MarginCall, and BTC-UP.com projects.Read More